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GBPAUD Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com
Midterm forecast:
Although current trend is uptrend, but we forecast a downtrend wave would begin in Midterm.
Technical analysis:
There is a divergence in RSI and price between the peak at 1.8375 on 2018-09-11 and the peak at 1.8722 on 2018-10-10, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI support #1 at 50 is broken, so the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 1.8725 on 10/11/2018, so more losses to support(s) 1.7940, 1.7800, 1.7650 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 42.
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